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6 Reasons Women Need Long-Term Care

Long-term care planning is important for everyone, but it is arguably most important for women. Why? Longevity and caregiving. 1) Women live longer than men. Women outlive men by about five years on average. Women who are married tend to outlive their husbands. A woman born in 1960 has a life expectancy of 73 years, […]

Stretch Demise Mandates Beneficiary Review

Read our print-friendly PDF version With the passage of SECURE 2.0 and the opportunities it provides, financial professionals are reminded of the changes made in the original Act. In addition to making other changes to retirement plans and IRAs, SECURE 1.0 changed the rules on distributions for deaths occurring after December 31, 2019. Stretch Distribution […]

President Biden Signs SECURE 2.0 Legislation as Part of Spending Legislation

By Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) On December 29, 2022, President Biden signed into law the more than 4,000-page spending bill. In addition to funding the government to September, the legislation included provisions of what has been called SECURE 2.0. The SECURE 2.0 package is full of popular reforms that have been […]

Who Cares? You Should – The Status of State Long-Term Care

By Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) Situation: Public policy makers face a problem – how to pay for the cost of long-term care for people who are no longer able to take care of themselves. With the chances of needing long-term care services exceeding fifty percent for individuals turning 65 today, the […]

Men are from Mars & Women from Venus in the LTC Universe

Situation: A financial representative called her dedicated DBS Case Design Analyst with concerns about balancing the life insurance and long-term care goals of a married couple. Her client’s husband refused to attend a planning meeting to discuss long-term care, but always attended meetings in the past. The client was very interested in discussing long-term care […]

Recent Modifications to Required Minimum Distribution Rules for Lifetime Distributions

Situation: Financial representatives know that clients who own IRAs or participate in qualified retirement plans must take distributions from their accounts according to the required minimum distribution (RMD) rules. The RMD rules mandate the timing and minimum amount an IRA owner and retirement plan participant must distribute both during life and after his/her death. Clients […]

The Many Ways to Structure a Gift Transfer

Read our print-friendly PDF version The combination of depressed market values, extraordinarily low AFR and 7520 rates, and historically high gift/estate exemption of $11,580,000 opens the door to significant wealth transfer planning opportunities for high net worth individuals and their families. While making a gift of an amount equal to a large part of, or […]

The SILVER LINING to COVID-19 Impact

Read our print-friendly PDF version Now is the Perfect Time for ESTATE PLANNING for Wealth Transfer.

Paycheck Protection Program: A Panacea or Fools Gold?

Read our print-friendly PDF version Since the Coronavirus Aid Relief and Economic Security (CARES) Act was passed by Congress and signed into law by President Trump on March 27, 2020 it has garnered considerable attention among financial advisors. The interest is due not only to its application to clients of the advisor, but also because […]

Unwinding 2020 RMDs

Read our print-friendly PDF version Just when I was beginning to believe that I was getting a handle on the new required minimum distribution (RMD) rules that Congress passed in December as part of the SECURE Act, Congress modified them for 2020. Furthermore, there may be more changes around the corner.